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2016-10-17 06:03:23

EXAS

Exact Sciences

$18.33

-0.21 (-1.13%)

06:03

10/17/16

10/17

06:03

10/17/16

06:03

Exact Sciences announces Cologuard now covered under TRICARE

Exact Sciences announced that Cologuard is now covered under TRICARE's preventive services policies for use every three years without patient coinsurance, copayments or deductibles. The update was made after TRICARE's review of its screening coverage policies to align them with the preventive services coverage mandate of the Affordable Care Act. TRICARE is the health care program of the U.S. Department of Defense, providing benefits to 9.4M active-duty, reserve and National Guard personnel, veterans and their dependents.

Craig-Hallum analyst Bill Bonello notes that two payors, namely Health Care Service Corporation, or HCSC, and Florida Blue posted updated Medical Policies indicating that Exact Sciences' Cologuard may be "medically necessary" for colorectal cancer screening. The analyst believes this is a "very positive" indicator of how other payors will interpret the positive recommendation from the U.S. Preventive Services Task Force issued in June. Further, he sees Exact Sciences as well positioned to become standard of care for colon cancer screening, which could be a $3B-$5B opportunity over time. Bonello reiterates a Buy rating and $26 price target on the shares.

08/15/16

ADAM

08/15/16NO CHANGETarget $24ADAMBuy

Exact Sciences price target raised to $24 from $19 at Canaccord

Canaccord analyst Mark Massaro raised his price target on Exact Sciences to $24 from $19 citing expectations of ongoing commercial momentum in the second half of the year coupled with new commercial payor wins. Massaro raised its numbers based on recent payor wins and the belief Q3 guidance feels achievable. Massaro reiterated his Buy rating on Exact Sciences shares.

After eviCore suggested that Exact Sciences' Cologuard may be considered for colorectal cancer screening once every three years, Craig-Hallum analyst Bill Bonello says he believes that at least one large health insurer, Highmark, has already elected to follow this policy. The analyst continues to believe that Cologuard will receive broad commercial payer coverage in light of the 2016 USPSFT final colorectal cancer screening recommendation and that increased payer coverage will drive increased test volumes. He reiterates a Buy rating and $26 price target on the shares.

10/03/16

CHLM

10/03/16NO CHANGECHLM

Craig-Hallum says to buy Exact Sciences

Craig-Hallum said it would be buyers of Exact Sciences following the inclusion of Colguard in Healthcare Effectiveness Data and Information Set, or HEDIS. The firm's analyst said HEDIS will drive both payor coverage and provider adoption of Cologuard as physicians now have a greater incentive to order Cologuard and payors have an increased incentive to facilitate Cologuard adoption.